How to Get Rid of m3objexp.ocx Error Message and Launch the Application?

How do I get rid of m3objexp.ocx error message and launch the application?

It is a windows XP system.
I have completely un-installed application and taken out entries from registries, restarted the system. Re-installed application with admin ID and registered the ocx on the system.
Please help.

Failed to load control `msiObjectExplorer` from M3OBJEXP.OCX. Your version of M3OBJEXP.OCX may be outdated

CAUSE:
A possible reason is that the file M3OBJEXP.OCX failed to install correctly and was not able to correctly register with the operating system.

ACTION:
Read below docs;
TN11873
TN30621

Below is one method

Dinamic Link Libraries or Controls may not be registered automatically; one may therefore have to carry out the procedure manually.

NOTE: Registering a file modifies a machine's registry in the background. Please see the warning message at the bottom of this page.

Registering and unregistering .dll or .ocx files is accomplished via the RegSvr32 Windows utility. To register a .dll or .ocx file complete the following steps:

Open a command prompt session by executing "cmd.exe." To do this, click on the Windows Start button, select the Run option, and click Ok. User must run this command using an Administrator account. If the user is not an Administrator, go to Start > All Programs > Accessories > Right-click on Command Prompt > Run As... > Select and Administrator account.

Use the command prompt to navigate to the directory where the file to be registered/unregistered resides.

Once there, use the following syntax:
a. To register a file:

regsvr32 [filename]
b. To unregister a file:
regsvr32 /u [filename]
NOTE: Replace the string [filename] with the complete name of the .dll or .ocx control file to be manipulated. For example, if a .dll file by the name of "sampleDLL" is to be registered then the syntax would be as follows:

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